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Consolidated Statements of Income - (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income:        
Loans receivable, taxable, including fees $ 26,990 $ 11,280 $ 59,963 $ 30,958
Loans receivable, non-taxable, including fees 55 17 110 62
Investment securities, taxable 805 3,973 5,936 10,341
Investment securities, non-taxable 21 22 64 65
Other 91 67 225 380
Total interest income 27,962 15,359 66,298 41,806
Interest expense:        
Deposits 5,191 5,564 15,687 16,660
Federal funds purchased 5 0 8 0
Securities sold under repurchase agreements 0 21 0 28
Borrowed funds 194 95 434 304
Subordinated debt 17 16 52 49
Total interest expense 5,407 5,696 16,181 17,041
Net interest income 22,555 9,663 50,117 24,765
Provision for loan losses 10,116 900 14,654 6,550
Net interest income after provision for loan losses 12,439 8,763 35,463 18,215
Non-interest income:        
Deposit fees 124 114 357 313
Mortgage warehouse transactional fees 3,346 1,366 8,829 3,754
Bank owned life insurance 359 264 948 1,128
Gain on sale of investment securities 0 1,413 9,006 1,413
Accretion of FDIC loss sharing receivable 1,296 0 1,951 1,709
Gain (loss) on sale of loans (71) 0 268 377
Other 4,712 85 5,436 388
Total non-interest income 9,766 3,242 26,795 9,082
Non-interest expense:        
Salaries and employee benefits 5,978 3,752 17,073 11,840
Occupancy 1,709 1,022 4,937 3,012
Technology, communication and bank operations 699 485 2,037 1,312
Advertising and promotion 270 206 846 639
Professional services 819 1,234 2,474 3,963
FDIC assessments, taxes, and regulatory fees 669 373 2,205 1,626
Other real estate owned (287) 102 587 390
Loan workout 617 370 1,519 1,014
Merger related expenses 0 530 28 530
Stock offering expenses 97 0 1,437 0
Other 1,424 656 4,112 1,861
Total non-interest expense 11,995 8,730 37,255 26,187
Income before tax expense 10,210 3,275 25,003 1,110
Income tax expense 3,574 930 8,751 299
Net income 6,636 2,345 16,252 811
Dividends on preferred stock 0 5 0 5
Net income available to common shareholders $ 6,636 $ 2,340 $ 16,252 $ 806
Basic income per share $ 0.53 $ 0.24 $ 1.39 $ 0.08
Diluted income per share $ 0.51 $ 0.23 $ 1.35 $ 0.08